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Tag: Rally

S&P 500 Weekly Update: Dow Transports And Small Caps Lead This Leg Of The Rally

October 10, 2020
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“There is only one side to the stock market; and it is not the bull side or the bear side, but the right side.” – Jesse Livermore

Anyone who follows the equity market realizes that they are faced with what I described last week as a foggy outlook in the near term. When that occurs, I try not to get swayed and then sidetracked into forgetting the long-term trends that are in place.

An investor has to be reactionary waiting for the market to give them clues, then reacting appropriately. I take my leads from price action, momentum, sentiment, and other indicators. All designed for me to decipher what the market is telling me. Never drifting too far from the one key that serves as the foundation of my current strategy. That is staying focused on the major trend that is in place, and that remains without question in favor

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Europe’s Record Cash Pile Set to Prime Next Stage of Bond Rally

October 10, 2020
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(Bloomberg) — An upcoming surge in euro-area bond sales should be more than swept up by the record amount cash of sitting idly in the economy, potentially adding fuel to the rally sweeping across the region’s debt markets.

Next week, bond offerings in the eurozone are expected to rise five-fold, with Germany, Italy and France, among others issuing a combined 30 billion euros ($35.4 billion) worth of securities, according to Commerzbank AG. That’s still less than the amount of debt coming due.

The supply also comes as excess liquidity in the euro area ballooned past the 3-trillion-euro mark for the first time ever last week, thanks to unprecedented support from the European Central Bank.



chart: Italy sells debt next week with yields at record lows


© Bloomberg
Italy sells debt next week with yields at record lows

The monetary authority’s liquidity injections have already pushed yields on some of the region’s riskiest borrowers to record lows. With speculation now growing that

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TSX Ends On Buoyant Note As Stocks Rally On Positive Lead From U.S.

October 7, 2020
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(RTTNews) – The Canadian market closed on a buoyant note on Wednesday as stocks from across several sectors moved higher on sustained buying support amid renewed optimism about a U.S. stimulus deal.

After asking his administration’s negotiators to halt discussions with Democrats over a coronavirus relief plan earlier on Tuesday, U.S. President Donald Trump tweeted later that night that he would support individual stimulus measures.

“The House & Senate should IMMEDIATELY Approve 25 Billion Dollars for Airline Payroll Support, & 135 Billion Dollars for Paycheck Protection Program for Small Business. Both of these will be fully paid for with unused funds from the Cares Act. Have this money. I will sign now!” Trump tweeted.

He later added, “If I am sent a Stand Alone Bill for Stimulus Checks ($1,200), they will go out to our great people IMMEDIATELY. I am ready to sign right now.”

Stocks in Canadian and U.S.

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Indonesia’s Labor Law Sees Stocks Rally as Workers Protest

October 6, 2020
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(Bloomberg) — Indonesia’s new law, aimed to simplify labor and investment rules, has been met with a rally in local markets and concern from global investors as well as labor unions.



a group of people walking down the street: Workers transport carts loaded with boxes at Tanah Abang market in Jakarta, Indonesia, on Tuesday, Aug. 4, 2020. Indonesia is scheduled to announce its second-quarter gross domestic product (GDP) figures on Aug. 5.


© Bloomberg
Workers transport carts loaded with boxes at Tanah Abang market in Jakarta, Indonesia, on Tuesday, Aug. 4, 2020. Indonesia is scheduled to announce its second-quarter gross domestic product (GDP) figures on Aug. 5.

Parliament agreed to pass the omnibus bill on jobs creation in a plenary session Monday, sending the rupiah and stocks to gain as much as 1.3% the next day. The vote was brought forward from Oct. 8, preempting a three-day strike by about 2 million workers who sought to reject it. The strike will still happen from Tuesday.

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Indonesian Workers Rally Against New Job Bill, Massive Layoffs

The law, which revises more than 70 existing regulations, has aroused controversy since President Joko

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CANADA FX DEBT-Canadian dollar rises to 2-week high as stock markets rally

October 5, 2020
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* Canadian dollar rises 0.3% against the greenback

* Loonie notches its strongest since Sept. 21 at 1.3263

* Price of U.S. oil increases 4.7%

* Canadian bond yields climb across a steeper curve

TORONTO, Oct 5 (Reuters) – The Canadian dollar strengthened
to a two-week high against its U.S. counterpart on Monday,
tracking improvement in risk appetite ahead of domestic data
later in the week that could help guide expectations about the
strength of economic recovery.

Global shares and the price of oil, one of Canada’s
major exports, rose as suggestions U.S. President Donald Trump’s
health was improving brought relief to markets and after U.S.
House Speaker Nancy Pelosi said progress was being made on
additional fiscal stimulus.

U.S. crude oil futures climbed 4.7% to $38.78 a
barrel, while the Canadian dollar was trading 0.3% higher
at 1.3268 to the greenback, or 75.37 U.S. cents. The currency
touched its

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Lululemon could resume its rally. Trader lays out way to catch upside

October 2, 2020
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Onetime high flyer Lululemon has run into trouble over the past month.

The stock has fallen 17% from a Sept. 2 high with losses accelerating even after an earnings report that topped analysts’ estimates. The stock remains more than 40% higher for the year.

Todd Gordon, founder of TradingAnalysis.com, says strong demand should help Lululemon recapture upside momentum.

“Lulu is well positioned to benefit from the work-from-home, stay-at-home environment. Comfort clothes are really, I think, second to none … But I also think they’ll benefit if and when the work-from-home, stay-at-home environment ends, because gyms and yoga classes will open back up and the demand will stay strong,” Gordon told CNBC’s “Trading Nation” on Thursday.

He sees strength on three fronts: e-commerce, international expansion and its acquisition of Mirror, a augmented reality interactive fitness company.

“They’re looking to grow at a compound rate of 40% per year in China and

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Bed Bath & Beyond Must Hold This Level After Huge Earnings Rally

October 1, 2020
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What a week it has been for Bed Bath & Beyond  (BBBY) – Get Report. Shares are up about 40% so far, helped along by the stock’s 33% gain on Thursday.

The move came after the company delivered better-than-expected earnings.

The struggling retailer generated non-GAAP earnings of 50 cents a share, easily beating expectations by 79 cents. Revenue of $2.69 billion sank just 1.1% year over year and beat expectations by $70 million.

The impressive results weren’t contained to just the headline numbers. Comp-store sales growth of 6% breezed past estimates looking for a 2.1% contraction.

Bed Bath & Beyond also increased its gross margins – which topped expectations – while also generating positive free cash flow, cutting down its gross debt and boosting liquidity.

Given the struggle the stock has faced, it’s no wonder to see it popping higher now. It looks like Wedbush was right

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Stock futures continue rally into October on stimulus hopes

October 1, 2020
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Treasury Secretary joins ‘Lou Dobbs Tonight’ to discuss the state of negotiations for coronavirus relief bill.

U.S. equity futures are indicating a higher open on Wall Street ahead of the first trading session of October .

The major futures indexes are suggesting a gain of 0.8%.

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On Wednesday, prospects for additional support from Congress for the economy helped drive the day’s trading on Wall Street.

Economic data being released on Thursday could determine the direction of the market.

The estimate for weekly jobless claims is that 850,000 people may have filed for first time unemployment benefits, down 20,000 from the prior week.

Reports on personal income and spending for August as well as the September ISM Manufacturing report are also on the docket.

US PRIVATE EMPLOYERS ADD 749,000 JOBS IN SEPTEMBER, TOPPING EXPECTATIONS

A report from payroll processor ADP on Wednesday

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Owens & Minor Stock Up 4x This Year But The Rally Is Not Over Yet

October 1, 2020
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We believe Owens & Minor stock (NYSE:OMI), a global healthcare logistics company, could continue to rally in the near term. OMI stock trades at $22 currently, rising a whopping 4x since the beginning of the year.  It traded at a pre-Covid high of $7 in February, and it is 202% above that level now. Also, OMI stock has gained 272% from the low of $6 seen in March 2020, as the Fed stimulus largely put investor concerns about the near-term survival of companies to rest.

Owens & Minor’s business is seeing a strong growth in the current pandemic due to an increased demand for personal protective equipment (PPE). This has led to the company revising its full year earnings outlook to $1.90 at the high end of the range, compared to a $1.20 figure previously. In fact, the $1.20 figure was also revised during the last quarter from $0.60 guidance

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Trump returns to Minnesota to raise money, rally supporters

October 1, 2020
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MINNEAPOLIS — Five weeks ahead of the election, President Donald Trump was back in Minnesota Wednesday to headline a GOP fundraiser in Shorewood and lead an evening rally in Duluth.



a group of people sitting at a dock: US President Donald Trump speaks with supporters as he arrives at Minneapolis Saint Paul International Airport in Minneapolis, Minnesota, on September 30, 2020.


© MANDEL NGAN/AFP/Getty Images North America/TNS
US President Donald Trump speaks with supporters as he arrives at Minneapolis Saint Paul International Airport in Minneapolis, Minnesota, on September 30, 2020.

Trump arrived at the fundraiser at the Lake Minnetonka home of Cambria President and CEO Marty Davis about 5 p.m. and stayed for 90 minutes.

According to a Republican National Committee official, the event is expected to bring in $7 million for Trump Victory, a joint fundraising committee run by and benefiting the Trump campaign and the party. Davis is a GOP donor who has led efforts to urge Walz to reopen more of the economy during the COVID-19 pandemic.

Among those greeting him at the Minneapolis-St. Paul International Airport

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